The Pilgrims' victory against last season's semi-finalists was a lot more comfortable than the scoreline suggests despite Holloway making eight changes to the side that beat Hull in Saturday's Coca-Cola Championship opener on Humberside.
An own goal by Wycombe midfielder Martin Bullock and a cracking header from Argyle veteran midfielder Lee Hodges gave the Pilgrims a 2-0 half-time lead, and they cruised home in the second half.
Stefan Oakes' deflected goal late on was League Two Wycombe's first and only strike on Luke McCormick's goal and, although it reduced the home side's margin of victory, the game was never really that close.
The average age of the Pilgrims side was under 24 - and that included Hodges, who is nearly 34 - and youngsters Scott Laird and Ashley Barnes were handed debuts.
Midfielder Laird, a Scottish youth international, was man of the match and fellow youngsters Luke Summerfield and Reuben Reid also gave strong displays as Holloway's decision to give youth a try paid handsome dividends.
Despite Argyle creating plenty of opportunities, it took a scrappy own goal four minutes from the interval to separate the two sides, with Reid's determined run forcing Bullock to turn the ball past his own goalkeeper Scott Shearer as he attempted to cut out a pass to Sylvan Ebanks-Blake.
Ebanks-Blake then hit the post before Laird's whipped-in corner was met on the full by Hodges, whose header crashed into the goal off the crossbar.
Argyle went close early in the second half through Laird, Ebanks-Blake and Reid all went close, and the impressive Ebanks-Blake was later denied a deserved goal only by Shearer's late lunge.